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Lendlease Group has announced the sale of a AUD 400 million stake in the TRX retail mall, while retaining a 20 percent interest that will be placed under its Investments segment. The retail asset is fully operational and part of Kuala Lumpur's TRX development. The group has also revised the timing of around AUD 1 billion in expected cash inflows, now projected for the second half of FY26 instead of the first half. Separately, the sale of Lendlease's remaining stake in Keyton is progressing through exclusive negotiations with a preferred bidder.
Lendlease Group has announced the sale of a stake worth AUD 400 million in the TRX retail mall, marking another step in its ongoing portfolio reshaping strategy. The transaction involves the disposal of a majority interest in the fully operational retail asset, while the group will retain a 20 percent holding. This remaining interest will be moved into Lendlease's Investments segment, reflecting its intent to continue participating in stable, income-generating assets. Advertisement
The TRX retail mall is part of the wider Tun Razak Exchange development in Kuala Lumpur and has been operational, contributing to recurring income. Lendlease has been progressively monetising mature assets to recycle capital, reduce balance sheet exposure, and support its focus on capital-light and investment-led platforms.
Alongside the TRX transaction, the group indicated a change in the timing of expected cash inflows. Proceeds of around AUD 1 billion from transactions that were earlier anticipated in the first half of FY26 are now expected to be received in the second half of FY26. The revision reflects transaction sequencing rather than a change in underlying deal values.
Lendlease also confirmed that the sale process for its remaining stake in Keyton, its retirement living business, continues to move forward. The company is currently in exclusive negotiations with a preferred party, signalling progress on another key divestment identified under its strategic review.
Over the past few years, Lendlease has been streamlining its global operations, exiting non-core developments and reducing exposure to capital-intensive projects. The group has previously stated that asset sales form a central part of its plan to strengthen liquidity, simplify the business, and improve returns to investors.
Source Reuters
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